National Bank of Canada (OTCMKTS:NTIOF) Shares Gap Up – Here’s Why

National Bank of Canada (OTCMKTS:NTIOF) shares gapped up prior to trading on Wednesday . The stock had previously closed at $155.56, but opened at $164.10. National Bank of Canada shares last traded at $164.10, with a volume of 202 shares traded.

Analysts Set New Price Targets

Several research firms recently commented on NTIOF. Royal Bank Of Canada reissued a “sector perform” rating on shares of National Bank of Canada in a research note on Thursday, May 28th. Raymond James Financial restated a “market perform” rating on shares of National Bank of Canada in a research report on Tuesday, May 12th. Desjardins reaffirmed a “buy” rating on shares of National Bank of Canada in a report on Thursday, May 28th. Scotiabank reiterated an “outperform” rating on shares of National Bank of Canada in a research report on Tuesday, June 16th. Finally, National Bank Financial lowered National Bank of Canada from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

National Bank of Canada Trading Up 2.0%

The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.11. The stock has a market cap of $61.93 billion, a price-to-earnings ratio of 19.66, a P/E/G ratio of 1.41 and a beta of 0.88. The company has a fifty day simple moving average of $150.66 and a 200-day simple moving average of $136.99.

National Bank of Canada (OTCMKTS:NTIOF) last announced its earnings results on Wednesday, May 27th. The financial services provider reported $2.36 EPS for the quarter, topping the consensus estimate of $2.29 by $0.07. The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.81 billion. National Bank of Canada had a net margin of 14.49% and a return on equity of 15.99%. On average, research analysts forecast that National Bank of Canada will post 9.21 earnings per share for the current fiscal year.

National Bank of Canada Company Profile

National Bank of Canada (OTCMKTS: NTIOF) is a full‑service Canadian financial institution headquartered in Montreal, Quebec. The bank offers a broad range of products and services for personal, commercial and institutional clients, including deposit accounts, mortgages and consumer lending, small‑ and medium‑sized business banking, corporate lending, and cash management solutions.

In addition to traditional banking, National Bank provides wealth management and brokerage services through its private banking and advisory channels, and operates an investment banking and capital markets platform that delivers underwriting, advisory, trading and research services.